Space Exploration Technologies Corp. (SpaceX) — 2026Q3 财报

“Revenues of $7.8 billion, up 92% from $4.1 billion • Net loss of $541 million, an improvement of $467 million from net loss of $1.0 billion • Adjusted EBITDA of $3.5 billion, up 191% from $1.2 billion”

Revenue nearly doubled year-over-year to $7.8 billion (up 92% from $4.1 billion), while net loss narrowed by $467 million to $541 million and Adjusted EBITDA rose 191% to $3.5 billion from $1.2 billion.

“Reached 12.0 million Starlink Subscribers as of the end of Q2 2026, doubling year-over-year and up 1.7 million sequentially, while maintaining ARPU at $66, in line with Q1 2026”

Starlink reached 12.0 million subscribers, doubling year-over-year and up 1.7 million sequentially, with ARPU held at $66.

“Entered into several Cloud Services Agreements totaling $14.1 billion in contracted sales to provide customers with access to compute capacity, which resulted in $1.6 billion in incremental AI infrastructure revenues for the second quarter”

The AI segment signed Cloud Services Agreements totaling $14.1 billion in contracted sales, which contributed $1.6 billion of incremental AI infrastructure revenue in the quarter.

“Announced an agreement to acquire Cursor for $60 billion to accelerate our AI enterprise offerings with one of the most advanced AI coding tools available. We expect to close the deal in the third quarter of 2026”

SpaceX agreed to acquire Cursor for $60 billion to accelerate its AI enterprise offerings, with the deal expected to close in the third quarter of 2026.

“We ended the second quarter with $100 billion of cash, cash equivalents, and marketable securities, and $47.5 billion in backlog.”

CFO commentary emphasized quarter-end financial strength: $100 billion of cash, cash equivalents, and marketable securities and $47.5 billion in backlog.

“Now with Starship, our aspirations, and I think we will achieve these aspirations, are to deliver well over 1 million tons to orbit per year and probably ultimately 10 million tons per year.”

Elon Musk framed Starship's long-term ambition in tonnage-to-orbit terms: well over 1 million tons per year, and ultimately 10 million tons.

“We expect to end this year with over 2 gigawatts of compute. And probably our cumulative compute online by the end of next year will be several times higher.”

Musk said compute capacity will exceed 2 gigawatts by year-end and grow several times by the end of next year — build-out he said will be done exclusively on NVIDIA's Vera Rubin architecture.

“During the second quarter, we added more than 1.7 million Starlink subscribers globally, that’s consumer. This reflects our best quarter of new customers to date, an increase from the 1.4 million we added during the first quarter.”

Gwynne Shotwell called Q2 Starlink's best quarter of new customers to date, with more than 1.7 million consumer subscribers added, up from 1.4 million in Q1.

“we’ve already contracted an additional $6.7 billion of Cloud Services revenue over a six-month period that begins ramping starting in October of this year. We believe this puts us on a trajectory, including contribution from Cursor, to reach $100 billion of ARR, or annualized revenue run rate, by the end of this year”

CFO Bret Johnsen said SpaceX contracted an additional $6.7 billion of Cloud Services revenue in the first weeks of Q3 and — including Cursor's contribution — is on a trajectory to reach $100 billion of annualized revenue run rate by the end of this year.